Mahoney & Associates is proud to present to the market the opportunity to acquire an attractive 2 story office building located at Mid Carmel Valley. The property is located directly across from the Safeway anchored Mid Valley shopping center, and contiguous to Chase Bank. Located between Carmel and Carmel Valley Village, the Mid Valley area is home to many businesses and offices serving not only Carmel Valley, but also the greater peninsula. Due to water constraints, there is only a limited amount of existing office space in this area, thus tenants tend to have limited options in this market area, keeping vacancies low.

The building is currently set up with 13 separate suites, sizes of which range from 133 square feet to 608 square feet. Of these, five are on leases scheduled to expire in 2023, and the balance are presently on month to month tenancies. The leases are gross. The building is master metered for electricity with currently no reimbursement for this expense from tenants. The landlord also pays for water. Given the scarcity of smaller sized offices in Mid- Valley, the building has been popular with small businesses which require the benefit of having a place to primarily meet with clients.

PROPERTY HIGHLIGHTS

• The building has been well maintained
• Rents have room for upside
• Common restrooms for each floor
• Stable tenancies
• Short-term tenancies allow for owner-user
• Central location in Carmel Valley
• Close proximity to all services
• 13 Parking spaces
• HC-D-S-RAZ Zone: “Heavy Commercial with Design Approval and Site Plan Review, Residential Allocation Zone”